TSX : TGZ $ 3.73 +0.07 +1.91% Volume: 143,468 December 13, 2018
OTCQX: TGCDF $ 2.82 +0.07 +2.53% Volume: 6,350 December 13, 2018
GOLD $ 1,239.00 -3.80 -0.31% Volume: December 14, 2018

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We have expanded our West African pipeline of assets with Wahgnion, a development  project in Burkina Faso, where we intend to further unlock value and advance the project to first gold pour expected in 2019.


Wahgnion Gold Operations

The Next Large Long-life Commercial Gold Mine in Burkina Faso

Focused on diversification and growth, Teranga is advancing the development of its second producing gold mine, the Wahgnion Gold Project.  Major construction is underway and first gold pour is anticipated in December 2019.  Wahgnion is expected to increase Teranga’s consolidated production by approximately 50% on an annualized basis.

Wahgnion (previously known as Banfora) was acquired in October 2016 as part of Teranga’s acquisition of ASX-listed Gryphon Minerals. The fully permitted, high-grade, open pit project is located in the south-west of Burkina Faso, West Africa in a major gold producing district host to several world class gold deposits. Teranga owns 90% of the Project and the Burkina Faso government owns the remaining 10%. The Wahgnion Project includes both a permitted mine license with an area of 89km2 and five surrounding exploration permits totaling approximately 1000km2. The group of properties are encapsulated in the Loumana Birimian greenstone belt within Burkina Faso. 

Project Update Q3 2018: On Schedule and in Line with Capital Estimates

  • Plant design is complete and detailed engineering, processing facility construction, and development of site-wide infrastructure is on schedule. 

  • Peak recruitment surpassed with +1,600 workers on site 

  • Construction is on track for first pour by the end of 2019

  • An updated mineral resource estimate was released in June 2018. The update increased combined measured and indicated resources to 2.4 million contained ounces of gold (50.5 million tonnes at a grade of 1.51 g/t) representing a 33 percent increase from the previous 2017 feasibility study.

  • An updated mineral reserve estimate was released September 2018 which increased reserves by 450,000 ounces to 1.61 million ounces  of proven and probable reserves (31.07 million ore tonnes grading 1.61 g/t) representing an increase of almost 40 percent from the previous 2017 feasibility study.

On October 31, 2018, Teranga filed an updated NI 43-101 Technical Report for Wahgnion. To view the report, click here. 



Gold recovery has been demonstrated to be metallurgically simple and amenable to conventional CIL processing methods.


A multi-year exploration program is underway on four main deposits located on the mine license: Nogbele, Fourkoura, Samavogo, and Stinger. Follow-up development drilling is ongoing to further increase reserves and lower strip ratios.

Beyond the four main deposits included in the feasibility study, an ongoing regional drilling program in underway to pursue 12 highly prospective targets over the five permits surrounding the mine license that have the potential to become resources. The objective of the regional exploration program is to extend and optimize the life of mine by identifying additional deposits within trucking distance of the centrally located plant.

Mining  and Processing

The mine plan for Wahgnion proposes open pit mining of four initial gold deposits within the mine lease: the Nogbele, Fourkoura and Stinger deposits that fall into the Nogbele land tenement and the Samavogo deposit, which is included in the Dierisso tenement.

The Wahgnion process plant is being built adjacent to the Nogbele deposit, which contains majority of mineral reserves. The Fourkoura, Stinger, and Samavogo deposits are located within 25 kilometers of the process plant. Plant design is based on a conventional carbon-in-leach (CIL) gold process flowsheet consisting of primary crushing, semiautogenous grinding and ball milling, with a pebble crusher, CIL gold extraction, elution, elctrowinning, and gold smelting to produce doré on site. 

Throughput is designed to range between 2.2 Mtpa and 2.5 Mtpa, depending on the blend of soft and hard ore. The average predicted plant gold recovery is 92%, with soft (oxide) material recoveries from some zones reaching as high as 95%.